Jan 21/09. They don't know what
they're doing, do they? With every step taken by the Government as it
tries frantically to prop up the British banking system, this central
truth becomes ever more obvious.
Yesterday marked a new low for
all involved, even by the standards of this crisis. Britons woke to news
of the enormity of the fresh horrors in store. Despite all the sophistry
and outdated boom-era terminology from experts, I think a far greater
number of people than is imagined grasp at root what is happening here.
The country stands on the
precipice. We are at risk of utter humiliation, of London becoming a
Reykjavik on Thames and Britain going under. Thanks to the arrogance,
hubristic strutting and serial incompetence of the Government and a
group of bankers, the possibility of national bankruptcy is not
Gordon Brown is engaged no
longer in a standard battle for re-election; instead he is fighting to
avoid going down in history disgraced completely.